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Advice on buying/selling

1 reply

HuckingFelll · 20/07/2022 20:49

Hi, I actually feel quite stupid asking this but I'd really like some advice as I actually don't know how the process works. So, I live in a 10yr old newish build, I hate it due to many factors but mostly no storage, tiny bedrooms and so much going wrong. I feel like it was completely rushed and to begin with I loved it but now not so much after redecorating most rooms. It's in a great location and lovely estate for my LO going to school and public transport etc. I was extremely lucky to put a big deposit down so I have approx £100k equity. I think I want to move. How do I go about it? Do I find a house I like first? I've heard about porting my mortgage. Do I sell first? I actually have no clue. I'd love some basic advice from anyone please

OP posts:
Twiglets1 · 21/07/2022 06:07

The advice is always to sell first. Once your property is on the market you could potentially start looking at other properties to buy. But you can’t make a serious offer until your property is sold.
You could contact a mortgage broker to find out how much you could borrow but may be useful to first get valuations on your current property from 2 or 3 local estate agents. You could also phone your current mortgage provider and tell them you are thinking about moving house to find out how much they would let you get a mortgage for if you stick with them. Decisions about whether to stick with your current provider or switch to a new bank/building society can be done later. The first step is to get your current property on the market.

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